|
200504105
<br />R. All future advances from Benefrciary to Trustor or other fwt.irc obligations of Trustor to Beneficiary under any
<br />promissory note, contract, guaranty, or ou'.er evidence of ('L�bt executed by "Trustor in favor of Beneficiary after
<br />this Security Instrument whether or riot this Security Instrument is specifically referenced. If more than one person
<br />signs this Security Instrument, each Trustor agrees that this Seca, ity Instnument will secure all future advances and
<br />future obligations that are given to or incurred by any one or mr)re Trustor, or any one or more Trustor and others.
<br />All future advances and outer future obligations are secured by this Security lnstrument even though all or part
<br />may not yet be advanced. All future: advances and other future obligations are secured as if made on the date of this
<br />Security Instrument, Nothing in this Security Instrument shall constitute a commitment to make additional or
<br />future foans or advances in any amount. Any such con-Lnitmen, mist be agreed to in a separate writing.
<br />C. All other obligations Trustor owes to Beneficiary, which may later arise, to the extent not prohibited byy law•,
<br />including;, but =not limited to, liabilities for overdrafts relating to any deposit account agreement between Trustor
<br />and Beneticiar,. ,
<br />D. All additional surris advanced and expenses incurred by Beneficiary for insuring, preserving or otherwise
<br />protecting the Property and its value and any other sums advanced and expenses incurred by Beneficiary under the
<br />terms of this Security Instrument.
<br />In the event that Beneficiary fails to provide any necessary notice of the right of rescission with respect to any additional
<br />indebtedness secured under paragraph B of this Section, Beneficiary waives any subsequent security interest in the
<br />Trustor's principal dwelling that is created by this Security Instrument (but does not waive the security interest for the
<br />debts referenced in paragraph A of this Suction).
<br />DEED OF TRUST COVENANTS. Trustor agrees that the covenants in this section are material obligations under the
<br />Secured Debt acid this Security Instrument. If Trustor breaches any covenant in this section, Beneficiary may refuse to
<br />make additional extensions of credit and reduce the credit limit. By not exercising either remedy u Trustor's breach,
<br />Beneficiary does not waive Beneficiary's right to later consider the event a breach if it happens again.
<br />Payments. Trustor agrees that all payments under the Secured Debt will be paid when due and in accordance with the
<br />iernrs of the Secured Debt and this Security Instrument.
<br />Prior Security Interests. With regard to any other mortgage, deed of trust, security agreement or other lien document
<br />that created a prior security interest or encumbrance on the Property, Trustor agrees to make all payments when due and
<br />to perform or comply with all covenants. Trustor also agrees not to allow any modification or extension of, nor to
<br />request any future advances under any note or agreement secured by the lien document without Beneficiary's prior
<br />Written approval.
<br />Chirps Against Title. Tn:stor will pay all taxes (including any tax assessed to this Decd of 'Trust), assessments, liens,
<br />cncumbr.utces, lease payrncrats, ground rents. utilities, and other chir,es r::haing to the Property when due. Beneficiary
<br />may require Trustor to provide to Beneficiary copies of all notices that such amounts are due and tine receipts evidencing;
<br />Trustor's payment. Trustor will defend title to the Property against any claims that would impair the lien of this
<br />Security Instrument. Trustor agrees to assign to Beneficiary, as requested by Beneficiary, any rights, claims or defenses
<br />Trustor may have against parties who supply labor or materials to maintain or improve the Property.
<br />Property Condition, Alterations and Inspection. Trustor will keep the Property in good condition and make all
<br />repairs that are reasonably necessary. Trustor shall not commit or allow any waste, impairment, or deterioration of the
<br />Property: Trustor agrees that the nature of the occupancy and use will not substantially change without Beneficiary's
<br />prior written consent. Trustor will not permit any change in any license, restrictive covenant or easement without
<br />Beneficiary's prior written consent. Trustor will notify Beneficiary of all demands, proceedings, claims, and actions
<br />5 Mst Trustor, and of any loss or damage to the Property.
<br />lsenefieiary or Beneficiary's agents may, at Beneticiary's option, enter the Property at any reasonable time for the
<br />Purpose of inspecting the Property. Beneficiary shall give Trustor notice at the time of or before an inspection
<br />specifying a reasonable purpose for the inspection. Any Inspection of the Property shall be entirely for Beneficiary's
<br />benefit and Trustor will in no way rely on Beneficiary's inspection.
<br />Authority to Perform. If Trustor fails to perform any duty or aray of the covenants contained in this Security
<br />Instrument, Beneficiary may, without notice, perform or cause them to be performed. Trustor appoints Beneficiary as
<br />attorney in fact to sign Trustor's name or pay any amount necessary for performance. Beneficiary's right to perform for
<br />'frustor shall not create an obligation to perfc,n n, and Beneficiary's failure to perform will not preclude Beneficiary
<br />from exercising ---y of Beneficiary's other rights under the law or this; Security Instrument.
<br />Leaseholds; Condominiums; Planner! Unit Developments, -Trustor agrees to comply with the previsions of any lease
<br />if this Security Instrument is un a leasehold. It' the Property includes a unit in a condominium or a planned unit
<br />development, 'Trustor will perform ell of "Trttstor's duties urtelc- the covenants, by -laws, or regulations of the
<br />condominium or planned unit (level oprnent.
<br />Condemnation. Trustor will give Beneficiary prompt notice of any pending or threatened action, by private or public
<br />entities to 4)urchase or take arty or all of the Property through condemnation, eminent domain, or any other means.
<br />Trustor act aorizes Beneficiary to intervene in prUStor's name to any of the above described actions or claim:. Trustor
<br />assigns to Beneficiary the proceeds of any award or claim for damages connected with a condemnation or other taking of
<br />all or any part of the Property. Such proceeds shall br: considered payments and will be applied as provided in this
<br />Security Instrument. This assignment of proceeds is subject to the terms of any prior mortgage, deed of trust, security
<br />agreement or other lien document,
<br />Insurance. Trustor shall keep Property insured against loss by fire, flood, theft and other hazards and risks reasonably
<br />associated with the Property clue to its type and location. This insurance shall be maintained in the amounts anti for the
<br />periods that Bcracficiary requires. What Beneficiary requires pursuant to the precedinyl two sentences caul change during;
<br />the tertrt of the loan. "hlie insurance carrier providing the insurance shall be chosen by Taster subject to Ilene ficiary's
<br />approval, whiJi shall riot he unrcasF:tt:t`,a!y wNflicid. If Trustor fails to maintain the coverage described above,
<br />flerteficiary tatsuy, at Beneficiary'~ option, c+hGdn coverage to protect Ile,t,,ficiary's rights in the Property according to the
<br />terms of this S +.- ,;.lrity instrument.
<br />All insur;uace policies and v-ncw;&, shall ''3e• :tccv{3tahlc to IlenCh6!t' and Shall iruc:ude a Standard "ntortgyage clause"
<br />and, wIICie :tpplic:thlc, "gear; p't%II -c cl;utac " `1'rustnr shall ir ill cdlnlr':., notify l3cneticiary W cancellation or termination
<br />!1 I vc flit' rr, t o hold th { ltr' :ril c' ' equire >, Trustor sh;dl of the imururcc. liriwici:uv sl?,i m
<br />inuneeli:ucly give to lienctici'try ,Ill rccei11:� of j),11d larentiums oriel tortccJl notice+, Uri In le. <s, 'Trustor shall give
<br />irruncdiate notice ti, the insurancer carrier tutcl 1lenc!iciary, Bettefici:try rmy make proof of lo:: it' riot Horde inunediately
<br />by Trustor.
<br />Unless otherwise agreed in writing;, ill insurance procceds sliall he :tpplied to tlae restoration or repair of the Property or
<br />W the Secnrc'el Debt, whether or not then due, at flo:ncficiary's option. Ally application of proceeds to principal shall not
<br />extend or postpone the duc date of the scheclr.t!vd payment nor change the amount of' ally payment. Any excess will be
<br />paid to ttic Trustor. If the Property is :acquired by Beneficiary, Truster's right to any insurance policies and proceeds
<br />resulting from daniagg���e to the Property before the acquisition shall press to Beneficiary to the extent of the Secured Debt
<br />irtlntediately before tttc actluisltinn.
<br />; j 1991 F.'.anb ors 'SV�:rtem:. ,nC . St. C:'.: n.x1. --;:P P!:. DT .FJ, 1 /:3112003
<br />-C465(NE)
<br />li
<br />)/--� —fc-Nr�l
<br />fPd9p
<br />
|